I. COMMENCED TRADING IN DECEMBER

INITIAL OFFERINGS

Company
(Symbol)#

Date Filed

Date Comm.

Shares/ Units (M)

Price

Shares
Out (M)

Lead, Other Underwriters

Gross (M)

Net (M)

Antisense
Therapeutics
Ltd. (Australia; ASE:ANP)¹

11/21**

12/20

65S

A$0.20

N/A

N/A

A$13 (US$6.6)

N/A

Bruker AXS
(BAXS)²

7/27

12/17

9S

$6.50

54.8

UBS Warburg LLC (co-lead); Thomas Weisel Partners (co-lead); CIBC World Markets Corp.; SG Cowen Securities Corp.; Robert W. Baird & Co.

$58.5

$52.9

Northwest
Biotherapeu-
tics Inc.
(NWBT)³

8/13

12/14

4S

$5

16.85

C.E. Unterberg, Towbin; Fahnestock & Co. Inc.; Roth Capital Partners LLC

$20

$17.3

Total: $85.1M

Number of IPOs in December: 3

Average value of December IPOs: $28.37M

Number of IPOs for 2001: 10

Total raised in IPOs in 2001: $292.15M

Average value of IPOs in 2001: $29.2M

FOLLOW-ON OFFERINGS

Atrix Labora-
tories Inc.
(ATRX)⁴

2/15

12/7

0.565S

$23

15.2

Banc of America Securities

$13

$12

BioMarin Pharmaceu-
tical Inc.
(BMRN)⁵

11/12

12/7

8.05S

$12

51.2

UBS Warburg LLC; CIBC World Markets Corp.; U.S. Bancorp Piper Jaffray

$96.6

$90.4

CV Thera-
peutics Inc.
(CVTX)⁶

1/4

12/4

2.875S

$52.50

25.1

JP Morgan Securities (lead); Robertson Stephens (co-lead); Bear Stearns & Co. Inc.; CIBC World Markets Corp.; Morgan Stanley & Co. Inc.; SG Cowen Securities Corp.; U.S. Bancorp Piper Jaffray Inc.; First Albany Corp.

$151

$124.4

Inex Pharma-
ceuticals Corp.
(Canada;
TSE:IEX)⁷

11/26

12/13

6.15S

C$7
(US
$4.40)

N/A

BMO Nesbitt Burns Inc.; Raymond James Ltd.; RBC Capital Markets Inc.; Yorkton Securities Inc.; Dlouhy Merchant Group Inc.

C$43 (US$27.4)

N/A

Neurocrine
Biosciences
Inc. (NBIX)⁸

11/13

12/4

3.5S

$46.75

29.7

Deutsche Banc Alex. Brown; CS First Boston (co-leads); CIBC World Markets Corp.; Lehman Brothers Inc.; UBS Warburg LLC

$163.6

$153.6

Stressgen
Biotechnol-
ogies Corp.
(Canada;
TSE:SSB)⁹

12/4

12/20

6.7S

C$4.15

N/A

Raymond James (co-lead); BMO Nesbitt Burns (co-lead); Yorkton Securities Inc.

C$27.8 (US$17.6)

N/A

Theratech-
nologies Inc.
(Canada;
TSE:TH)¹⁰

11/27

12/13

2.882S

C$10.25

N/A

Yorkton Securities Inc.

C$29.5 (US$18.78)

N/A

Transkaryotic Therapies Inc.
(TKTX)¹¹

12/13/00

12/13

3.2S

$39

33.3

SG Cowen Securities Corp.; Deutsche Banc Alex. Brown (co-leads); Pacific Growth Equities Inc.; Leerink Swann & Co.

$125.6

$119

Transkaryotic
Therapies Inc.
(TKTX)¹²

12/13/00

12/18

1S

$42

34.3

SG Cowen Securities Corp. (co-lead); Deutsche Banc Alex. Brown (co-lead); Pacific Growth Equities Inc.; Leerink Swann & Co.

$42

$39.8

Valentis Inc.
(VLTS)¹³

9/27

12/27

6.13S

$2.25

36.2

Wells Fargo Van Kasper

$13.8

$12.6

Notes:

# Unless otherwise indicated, shares are traded on the Nasdaq exchange.

** Denotes the date the item ran in BioWorld International.

N/A = Not available, applicable or reported.

ASE = Australian Stock Exchange; TSE = Toronto Stock Exchange

¹ Antisense was spun out by Circadian Technologies Ltd. Its IPO was conducted on the Australian Stock Exchange.

² Bruker's underwriters have an overallotment option for 1.35M shares.

³ Northwest's underwriters have an overallotment option for 600,000 shares.

⁴ Atrix's underwriters have an overallotment option for 84,750 shares.

⁵ BioMarin's offering includes the underwriters' overallotment option for 1.05M shares.

⁶ CV Therapeutics' offering includes a 375,000-share overallotment option for its underwriters. Net proceeds do not include the overallotment option.

⁷ Inex raised US$27.4M in its public offering of 6.15M shares.

⁸ Neurocrine's underwriters have a 525,000-share overallotment option.

⁹ Stressgen's underwriters bought 675,000 shares to cover overallotments.

¹⁰ Theratechnologies' offering includes the full exercise of the underwriters' overallotment option for 382,000 common shares.

¹¹ TKT's offering includes the full exercise of the underwriters overallotment option for 420,000 shares.

¹² TKT's second offering of the month drew from the same shelf offering filed last year.

13 Valentis' underwriter has an overallotment option for 919,501 shares.

Total: $669.38M

Number of follow-on offerings in December: 10

Average value of December follow-ons: $66.94

Number of follow-on offerings in 2001: 43

Total raised in follow-ons in 2001: $2,844.35M

Average value of follow-ons in 2001: $66.15M

II. FILED AND PENDING

INITIAL OFFERINGS

Company (Symbol)
Proposed Symbol)#*

Date Filed

Shares/ Units (M)

Price Range

Shares
Out (M)

Lead, Other Underwriters

Value (M)

AgraQuest Inc.
(AGRQ)¹

8/3

N/A

N/A

N/A

Merrill Lynch & Co.; Stephens Inc.; First Union Securities Inc.

$75

APBiotech (APBI;
unit of Nycomed
Amersham plc)²

10/3/00

18.2S

$15-17

208.6

Morgan Stanley Dean Witter (co-lead); Goldman, Sachs & Co. (co-lead); Chase H&Q; Salomon Smith Barney

$291.2

CombiMatrix Corp.
(CLMX)³

11/22/00

N/A

N/A

N/A

Salomon Smith Barney (co-lead); JP Morgan & Co. (co-lead)

$100

Corcept Therapeutics
Inc. (CORT)⁴

12/21

N/A

N/A

N/A

U.S. Bancorp Piper Jaffray (co-lead); CIBC World Markets Corp. (co-lead); Thomas Weisel Partners LLC

$90

diaDexus Inc.
(DDXS)⁵

11/20

7S

$12-14

31.1

Lehman Brothers Inc.; CIBC World Markets Corp.; Robertson Stephens Inc.; Fidelity Capital Markets

$91

NeoGenesis
Pharmaceuticals
Inc. (NGPI)⁶

11/19

6.2S

$12-$14

N/A

JP Morgan & Co.; Bear, Stearns & Co. Inc.; SG Cowen Securities

$80.6

Protarga Inc.
(PRTG)⁷

12/12

N/A

N/A

N/A

UBS Warburg LLC (co-lead); U.S. Bancorp Piper Jaffray (co-lead)

$75

Ribapharm Inc.
(RIBA)⁸

5/15

18S

$13-15

N/A

UBS Warburg LLC; CIBC World Markets Corp.

$252

ZymoGenetics
Inc. (ZGEN)⁹

9/10

N/A

N/A

N/A

Lehman Brothers Inc. (co-lead); Merrill Lynch & Co. (co-lead); Bear, Stearns & Co. Inc.; Pacific Growth Equities Inc.

$180

FOLLOW-ON OFFERINGS

Amylin Pharmaceu-
ticals Inc. (AMLN)¹⁰

12/14

13.3S

N/A

N/A

N/A

$115.4

Antigenics Inc.
(AGEN)¹¹

11/27

N/A

N/A

29

N/A

$100

BioTransplant
Inc. (BTRN)¹²

12/11

5S

$8.10

21.1

N/A

$40.5

Celgene Corp.
(CELG)¹³

12/21

N/A

N/A

75.6

N/A

$500

Cell Pathways Inc.
(CLPA)¹⁴

2/7

N/A

N/A

N/A

N/A

$25

Cepheid Inc.
(CPHD)¹⁵

12/21

N/A

N/A

26.56

N/A

$35

Cerus Corp.
(CERS)¹⁶

8/13

N/A

N/A

15.7

N/A

$300

CollaGenex Pharma-
ceuticals Inc. (CGPI)¹⁷

10/26

0.965S

$8.01

N/A

N/A

$7.7

Cytogen Corp.
(CYTO)¹⁸

10/26

10S

$2.50

78.9

N/A

$25

Exelixis Inc.
(EXEL)¹⁹

7/30

N/A

N/A

49.2

N/A

$150

Genaissance
Pharmaceuticals
Inc. (GNSC)²⁰

10/18

N/A

N/A

22.8

N/A

$35

Genaera Corp.
(GENR)²¹

11/21

N/A

N/A

N/A

N/A

$50

InSite Vision Inc.
(AMEX:ISV)²²

2/2

N/A

N/A

N/A

Ladenburg Thalmann & Co. (placement agent)

$40

InterMune Inc.
(ITMN)²³

12/21

N/A

N/A

N/A

N/A

$150

Matrix Pharmaceu-
ticals Inc. (MATX)²⁴

5/25

N/A

N/A

26

N/A

$30

Medicure Inc.
(Canada; CDNX:
MPH)²⁵

11/14

N/A

N/A

N/A

N/A

C$10 (US
$6.3)

Microcide Pharma-
ceuticals Inc. (MCDE)²⁶

2/12

N/A

N/A

N/A

N/A

$35

Myriad Genetics
Inc. (MYGN)²⁷

11/9

N/A

N/A

N/A

N/A

$250

NeoTherapeutics
Inc. (NEOT)²⁸

1/3

N/A

N/A

21.9

N/A

$50

Rigel Pharmaceu-
ticals Inc. (RIGL)²⁹

12/12

N/A

N/A

37.6

N/A

$50

SangStat Medical
Corp. (SANG)³⁰

12/28

N/A

N/A

N/A

N/A

$100

SciClone Pharma-
ceuticals Inc.
(SCLN)³¹

11/6

N/A

N/A

N/A

N/A

$20

Targeted Genetics
Corp. (TGEN)³²

12/13

8.8S

$2.66

N/A

N/A

$23.5

Tularik Inc.
(TLRK)³³

8/14

N/A

N/A

49.2

N/A

$250

Vysis Inc. (VYSI)³⁴

8/8

1S

$25.96

11.2

UBS Warburg LLC; First Union Securities Inc.; Pacific Growth Equities Inc.

$26

III. WITHDRAWN AND POSTPONED

INITIAL OFFERINGS

Company (Symbol)
Proposed Symbol)*

Date Filed/Date Pulled

Shares/ Units (M)

Price Range

Shares
Out (M)

Lead, Other Underwriters

Value (M)

Xcyte Therapies
Inc. (XCYT)³⁵

12/22/00
12/3

N/A

N/A

N/A

SG Cowen Securities Corp. (co-lead); U.S. Bancorp Piper Jaffray (co-lead); Dain Rauscher Inc.; First Security Van Kasper Inc.

$86.2

Notes:

# Unless otherwise indicated, shares are traded on the Nasdaq exchange; AMEX = American Stock Exchange; CDNX = Canadian Stock Exchange.

* Stock symbols for companies seeking to complete IPOs are proposed.

N/A = Not available, applicable or reported.

¹ AgraQuest filed a registration statement with the SEC to raise $75M in an IPO.

² APBiotech's IPO value, $291.2M, is based on the sale of 18.2M shares at $16 each, the midpoint of the expected price range.

³ CombiMatrix did not disclose any further details.

⁴ Corcept filed for an initial public offering estimated at $90M. It has not set the number of shares or a price-per-share amount.

⁵ diaDexus' IPO value, $91M, is based on the sale of 7M shares at $13, the midpoint of the expected price range. The underwriters have an overallotment option for 1.05M shares.

⁶ NeoGenesis' offering's value, $80.6M, is based on the sale of 6.2M shares at $13 each, the midpoint of the expected price range.

⁷ Protarga filed for its IPO with hopes of raising $75M. It did not disclose the number of shares to be offered or the expected price range.

⁸ Ribapharm's IPO originally was proposed in June 2000. The company amended its prospectus on May 15. The value, $252M, is based on the offering of 18M shares at $14 each, the midpoint of the expected price range. The underwriters have an overallotment option for 2.7M shares.

⁹ ZymoGenetics filed to raise $180M in an IPO.

¹⁰ Amylin filed a shelf registration statement that would allow it to issue from time to time up to 13.3M shares of common stock. The company did not list the price range.

¹¹ Antigenics filed a shelf registration covering the issuance of various types of securities, including secured and unsecured debt securities, preferred stock, depository shares and common stock.

¹² BioTransplant filed a shelf registration statement to sell up to 5M shares of its common stock. The value of the offering, $40.5M, is based on the Dec. 11 opening stock price of $8.10.

¹³ Celgene filed a universal shelf registration to offer and sell common stock, debt securities and convertible debt securities, up to a total value of $500M.

¹⁴ Cell Pathways filed a shelf registration for the sale of $25M in common stock.

¹⁵ Cepheid filed a shelf registration statement to offer and sell up to $35M of its common stock, preferred stock, debt securities and warrants.

¹⁶ Cerus filed to sell up to $300M of common stock and debt in a shelf offering.

¹⁷ The value of CollaGenex's proposed offering, $7.7M, is based on the Oct. 26 closing stock price of $8.01.

¹⁸ Cytogen filed to offer 10M shares at about $2.50 each in a shelf registration.

¹⁹ Exelixis filed a shelf registration to sell up to $150M in common stock.

²⁰ Genaissance filed a shelf registration to offer and sell common stock, preferred stock, debt or warrants, up to a value of $35M.

²¹ Genaera filed a universal shelf registration statement for the sale of up to $50M in common stock, preferred stock or warrants to purchase common stock or preferred stock.

²² InSite filed a shelf registration in February to sell $40M in stock.

23 InterMune filed a shelf registration to offer and sell up to $150M in stock.

²⁴ Matrix filed a shelf registration covering up to $30M in securities.

²⁵ Medicure plans to offer units, each consisting of one common share and one common share purchase warrant exercisable for a period of 24 months. The price will be determined in the context of the market.

²⁶ Microcide filed a shelf registration for the sale of up to $35M in securities. (Microcide is now Essential Therapeutics Inc., formed through its merger with The Althexis Company Inc.)

²⁷ Myriad filed a shelf registration statement for the sale of up to $250M of various types of securities.

²⁸ NeoTherapeutics filed a shelf registration covering the sale of debt securities, common stock, preferred stock, depository shares or warrants up to $50M. In May, the company raised $6M in a private placement. In August, the company privately placed 600,000 shares, raising $2.01M. In November, it placed 950,000 shares, raising $3.8M. In December, it placed 0.77M shares, raising $2.95M.

²⁹ Rigel filed a shelf registration statement to issue various types of securities up to an aggregate of $50M.

³⁰ SangStat filed a registration statement to issue securities up to an aggregate of $100M.

³¹ SciClone filed to sell up to $20M in common and preferred stock, debt securities and warrants from time to time through a shelf offering.

³² Targeted Genetics filed a shelf registration statement for the sale of up to about 8.8M shares of common stock. The value, $23.5M, is based on the Dec. 12 closing stock price of $2.66.

³³ Tularik filed to sell up to $250M in common stock and debt securities.

³⁴ Vysis registered to sell 4M shares, 3M of which will be sold by shareholder BP plc. The value of the offering, $26M, is based on the closing stock price of $25.96 on Aug. 7. The underwriters have an overallotment option for 600,000 shares. (Vysis is now being purchased by Abbott Laboratories.)

³⁵ Xcyte withdrew its IPO on Dec. 3 due to market conditions.